FREMONT, Calif. (AP) — FREMONT, Calif. (AP) — Nextracker Inc. (NXT) on Tuesday reported fiscal first-quarter profit of $157.2 million.
The Fremont, California-based company said it had profit of $1.04 per share. Earnings, adjusted for one-time gains and costs, were $1.16 per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The solar energy equipment supplier posted revenue of $864.3 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $853.4 million.
Nextracker expects full-year earnings in the range of $3.96 to $4.27 per share, with revenue in the range of $3.2 billion to $3.45 billion.
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